Four-Family Brick Building with Driveway
For Sale
$2,300,000
6724 21st Avenue, Brooklyn, NY 11204
MULTI_FAMILY - Brooklyn, NY
Property Size3,280 SF
Lot Size0.05 Acres
Price / SF$701.22
Days on Market74
Property Features for 6724 21st Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 4, Bedroom 10, Bathroom 2, Bedroom 8, Bathroom 1, Bedroom 9, Bedroom 6, Bedroom 4, Bedroom 7, Bedroom 3
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Bensonhurst
Standard status
Active
Size
3,280 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
15145
Building Details
Year built
1931
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Susana Chen Chong
(917) 708-9966
Added: Jun 1
Changed: Aug 4
Last Checked: Aug 13 at 9:06AM
MLS# 501903
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Introducing 6724 21st Avenue, a well-maintained four-family brick semi-detached building in Bensonhurst, built in 1931. The property includes a fully finished basement, and features a flat roof, tile flooring, and a kitchen appliance package including a refrigerator and stove.
The building measures 22x76 and sits on a 22x100 lot (approximately 0.0495 acres). It offers four apartments: Unit 1F (2 bedrooms, 1 full bath), Unit 1R (2 bedrooms, 1 full bath), Unit 2F (3 bedrooms, 1 full bath), and Unit 2R (3 bedrooms, 1 full bath).
A private driveway provides parking for 2 vehicles. The property is described as conveniently located near shopping, restaurants, schools, parks, and public transportation.
The building measures 22x76 and sits on a 22x100 lot (approximately 0.0495 acres). It offers four apartments: Unit 1F (2 bedrooms, 1 full bath), Unit 1R (2 bedrooms, 1 full bath), Unit 2F (3 bedrooms, 1 full bath), and Unit 2R (3 bedrooms, 1 full bath).
A private driveway provides parking for 2 vehicles. The property is described as conveniently located near shopping, restaurants, schools, parks, and public transportation.
Key Highlights
- R5 zoning for a four‑family brick semi‑detached building built in 1931
- Four apartments: Unit 1F and 1R each have 2 beds and 1 full bath
- Unit 2F and 2R each have 3 beds and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,871
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,297,420
$2.3M
Cap Rate 7%
$1,641,014
$1.6M
Cap Rate 9%
$1,276,344
$1.3M
Market Conditions
NOI Build-Up for 3,280 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$167.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$164.1K $50.03/SF
− OpEx
−$49.2K −$15.01/SF
NOI
$114.9K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,297,420
Cap Rate 7%
$1,641,014
Cap Rate 9%
$1,276,344
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.91M
NOI $114,871 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,135 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,109 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - R5-zoned four-family brick building built in 1931 with a fully finished basement and parking for two vehicles.
Where is this quadplex located?
The property is located at 6724 21st Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: R5 zoning for a four‑family brick semi‑detached building built in 1931; Four apartments: Unit 1F and 1R each have 2 beds and 1 full bath; Unit 2F and 2R each have 3 beds and 1 full bath
